J. MILLARD TAWES, Governor                       1335

legally invest any sinking funds, monies, or other funds belonging to
them or within their control in any bonds or other obligations issued
by the municipality pursuant to this subheading, provided that such
bonds and other obligations shall be secured by an agreement between
the issuer and the Federal Government in which the issuer agrees
to borrow from the Federal Government and the Federal Gov-
ernment agrees to lend to the issuer, prior to the maturity
of such bonds or other obligations, monies in an amount which
(together with any other monies irrevocably committed to the pay-
ment of principal and interest on such bonds or other obligations)
will suffice to pay the principal of such bonds or other obligations
with interest to maturity thereon, which monies under the terms of
said agreement are required to be used for the purpose of paying the
principal of and the interest on such bonds or other obligations at
their maturity. Such bonds and other obligations shall be authorized
security for all public deposits. It is the purpose of this section to
authorize any persons, political subdivisions and officers, public or
private, to use any funds owned or controlled by them for the pur-
chase of any such bonds or other obligations. Nothing contained in
this section with regard to legal investments shall be construed as
relieving any person of any duty of exercising reasonable care in
selecting securities.

11. Separability

If any provision of this subheading, or the application thereof to
any person or circumstances, is held invalid, the remainder of the
subheading and the application of such provision to persons or cir-
cumstances other than those as to which it is held invalid, shall not be
affected thereby. The powers conferred by this subheading shall be in
addition and supplemental to the powers conferred by any other law.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1963.

Approved April 30, 1963.

CHAPTER 615
(House Bill 453)

AN ACT to add 11 new sections under the new sub-heading "Rede-
velopment—Urban Renewal," to the Charter of the Town of Cris-
field as this Charter is contained in Article 20 of the Code of Public
Local Laws of Maryland (1930 Edition), title "Somerset County,"
subtitle "Crisfield," to authorize and empower the Mayor and
Council of Crisfield to carry out urban renewal projects and the
redevelopment, rehabilitation of slum or blighted areas, including
the acquisition of property for such purposes with certain pro-
visions in regard to such acquisition by the exercise of the power
of eminent domain; declaring such activities to constitute func-
tions in furtherance of which the Mayor and Council of Crisfield
may exercise the power of taxation, spend public funds and ex-
tend public credit; granting to the Mayor and Council of Crisfield
certain additional powers and authority necessary or proper to